Nursing Home Attorneys

in Brooklyn, Bronx, Queens, Nassau County & Suffolk County

 

Financial Exploitation of the Elderly

 

Negligent security and abuse against our nation's elderly is a horrific and constantly growing problem that may be affecting an elderly person in your life. According to the National Center on Elder Abuse, we do not know exactly how many older Americans are being abused, neglected and exploited in our country's medical facilities and private homes; however, according to the best available estimates, between 1 and 2 million Americans age 65 and older have been injured, exploited or otherwise mistreated by someone they depended on for care or protection. Only 1 in 14 cases of elder abuse comes to the attention of authorities.

 

Sadly, many of these abused seniors are afraid to report their nursing home abuse, fearing it will only get worse. Often times, the abuser is a family member or trusted family friend. Abuse against the elderly takes many forms, including physical abuse, sexual abuse, emotional abuse, neglect and abandonment.

 

There is one type of abuse that may take particularly long to discover, and that is financial exploitation of the elderly. Financial exploitation is defined as the improper use of an adult's funds, property or resources by another individual including, but not limited to, fraud, false pretenses, embezzlement, conspiracy, forgery, falsifying records, coerced property transfers and denial of access to assets.

 

Current estimates put the overall reporting of financial exploitation at 1 in 25 cases, suggesting that there may be at least 5 million financial abuse victims each year. Keep in mind that many cases go unreported each year. It's been estimated that for every one case of financial exploitation that is reported, about five more go unreported.

 

These are some warning signs of financial exploitation of the elderly. Some of the indications to look for are:

 

• Neglected or receiving insufficient care
• Isolated from family members or other support
• Accompanied by a stranger who encourages them to withdraw cash
• Accompanied by a family member or other person who seems to coerce the elderly person into making financial transactions
• Not allowed to speak for themselves
• With someone who appears too interested in their financial status
• Nervous or afraid of the person accompanying them
• Cannot account for their money
• Unable to remember financial transactions
• Suspicious banking activity

 

If you feel your elderly loved one has been financially exploited, please contact the experienced nursing home attorneys at Silberstein Awad & Miklos, P.C. today to schedule your free initial consultation. Our nursing home attorneys serve clients in New York, including the Bronx, Brooklyn, Queens, Nassau and Suffolk, and will work hard to get you the monetary compensation you deserve.

 

 

 

Silberstein, Awad & Miklos, P.C.
Call Us Toll Free
1.877. ASK 4 SAM